SONEDE International has published its annual accounts for the year ending December 31, 2022. These accounts show a net profit of 157 thousand dinars, compared to 511 thousand dinars in 2021, down 70%.
This decrease is mainly due to lower sales, which fell from 2 million dinars in 2021 to 1.4 million dinars at the end of December, down about 31%.
Sales were mainly generated in Benin (651 thousand dinars), Mauritania (381 thousand dinars) and Gabon (157 thousand dinars).
The gross margin decreased by 30% to 1.4 million dinars compared to 2 million dinars in the previous year.
On the expense side, personnel expenses increased from 87 thousand dinars to 137 thousand dinars (+56%), while other operating expenses went up to 832 thousand dinars (+13%), including 295 thousand dinars for per diems and bonuses (+156%). As a result, the operating profit fell by 68% to 218 thousand dinars, compared to 694 thousand dinars at the end of 2021.
The purpose of SONEDE International is to carry out studies and services in the water sector and to operate networks and facilities on the international market, mainly in Africa and the Middle East.
The company’s capital amounts to 2.7 million dinars, divided into 135,800 shares with a nominal value of 20 dinars each.
